Renaissance Technologies LLC Sells 203,800 Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB)

Renaissance Technologies LLC lowered its stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) by 33.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 405,900 shares of the company’s stock after selling 203,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Spruce Biosciences were worth $170,000 at the end of the most recent reporting period.

Spruce Biosciences Stock Down 1.4 %

Shares of SPRB opened at $0.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The stock has a market capitalization of $2.99 million, a price-to-earnings ratio of -0.08 and a beta of 2.49. Spruce Biosciences, Inc. has a 1 year low of $0.06 and a 1 year high of $0.87. The business’s 50 day simple moving average is $0.25 and its 200-day simple moving average is $0.38.

Spruce Biosciences (NASDAQ:SPRB) last released its quarterly earnings data on Tuesday, April 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.37). Spruce Biosciences had a negative net margin of 555.23% and a negative return on equity of 62.10%. The business had revenue of $0.55 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, equities analysts expect that Spruce Biosciences, Inc. will post -1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Royal Bank of Canada reduced their price target on shares of Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating on the stock in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.17.

Spruce Biosciences Profile

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.